THE EFFECT OF INVENTORY MANAGEMENT IN THE VIABILITY OF A COMPANY A CASE STUDY OF STEEL AND NAILS MANUFACTURING INDUSTRY

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1.1INTRODUCTION:

The viability of an organization ca be enhanced through an effective and efficient management of material resources. Inventory control is a notable measure in managing material resources. Management of resources covers every action taken from the procurement of the resources to their disposal. Firms take certain measures towards preventing their stocks from being in shortage, pilferage and waste some of the measures are very effective while other are not.

In consideration of the scarcity raw materials, their exorbitant costs of procurement and management in the present prevailing economic condition, if is imperative for firms to do away with the rule of thumb’ approach of inventory control and adopt the scientific approach. It is on the basis of this that the need for this study lies.

TABLE OF CONTENTS

TITLE PAGE II

APPROVAL III

DEDICATIONIV

ACKNOWLEDGEMENT V

TABLE OF CONTENTS VI

LIST OF ILLUSTRATIONS/TABLES

CHAPTER ONE:

1.1INTRODUCTION 1

1.2THE STATEMENT OF THE PROBLEM 1

1.3THE NEED FOR THE STUDY 3

1.4THE PURPOSE OF THE STUDY 5

1.5RESEARCH HYPOTHESIS 5

1.6THE SCOPE OF THE STUDY 6

1.7RESEARCH METHODOLOGY 6

1.8LIMITATION OF THE STUDY 7

1.9ORGANIZATION OF THE STUDY 8

1.10OPERATIONAL DEFINITION OF TERMS 9

CHAPTER TWO:

2.0INVENTORY CONTROL AND INVENTORY VALUATION12

2.1NATURE OF INVENTORY12

2.2INVENTORY CONTROL 16

2.3ACQUISITION AND ISSUE OF MATERIALS 40

2.4BASIC INVENTORY CONTROL SYSTEMS 43

2.5FACTORS THAT AFFECT INVENTORY CONTROL

SYSTEMS 49

2.6INVENTORY CONTROL METHODS 49

2.7INVENTORY VALUATION SYSTEMS

2.8INVENTORY VALUATION METHODS 53

2.9FACTORS AFFECTING INVENTORY VALUATION DECISIONS57

2.10THE CONCEPT OF VIABILITY 60

CHAPTER THREE

3.1SELECTION OF DATA62

3.2COLLECTION OF DATA 64

3.3TOOLS OF DATA ANALYSIS 66

3.4RELIABILITY OF DATA 67

CHAPTER FOUR: DATA PRESENTATION ANALYSIS

4.1DATA PRESENTATION AND ANALYSIS68

4.2HYPOTHESIS TESTING 86

CHAPTER FIVE:

SUMMARY, CONCLUSION AND RECOMMENDATION

5.1SUMMARY 100

5.2CONCLUSION 101

5.3RECOMMENDATION 102

BIBLIOGRAPHY107

APPENDICES109

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THE EFFECT OF INVENTORY MANAGEMENT IN THE VIABILITY OF A COMPANY A CASE STUDY OF STEEL AND NAILS MANUFACTURING INDUSTRY

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